Aljian Capital Management LLC Increases Holdings in Northrop Grumman Co. (NYSE:NOC)

Aljian Capital Management LLC increased its stake in Northrop Grumman Co. (NYSE:NOC) by 23.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,896 shares of the aerospace company’s stock after buying an additional 1,883 shares during the quarter. Northrop Grumman accounts for approximately 1.0% of Aljian Capital Management LLC’s portfolio, making the stock its 17th largest holding. Aljian Capital Management LLC’s holdings in Northrop Grumman were worth $4,644,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman in the third quarter valued at about $31,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman in the 4th quarter worth approximately $33,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman in the third quarter valued at approximately $36,000. Modus Advisors LLC bought a new position in Northrop Grumman during the fourth quarter valued at $38,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Northrop Grumman in the third quarter worth $40,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

NYSE:NOC opened at $471.25 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The business has a 50 day moving average price of $476.15 and a 200-day moving average price of $499.78. The firm has a market cap of $68.22 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 3.00 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Equities research analysts predict that Northrop Grumman Co. will post 27.94 earnings per share for the current year.

Northrop Grumman declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.75%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group dropped their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $544.56.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.